Nomura, Daiwa and other financial institutions are vying for the right to participate in the acquisition of 7-Eleven's parent company
1min read Securities Times News, Japanese financial institutions such as Nomura Securities and Daiwa Securities Group are vying to participate in the acquisition transaction of Seven & i Holdings Co., Ltd., the parent company of the convenience store giant 7-Eleven. The founder's family of Nissin Foods Co., Ltd. proposed a plan to privatize the company, with a proposed transaction valued at about 9 trillion yen (about $58.4 billion). At the same time, Couche-Tard, a Canadian convenience store chain, also made its own acquisition proposal, which was earlier rejected by Couche-Tard's 7.3 trillion yen offer for Seven & i. The special committee of the board of directors of Seven & i is reviewing these two proposals and has hired Nomura Holdings, Inc. for consulting. In addition, Nissin Foods Co., Ltd. and other investors are exploring the possibility of providing equity or cash to alleviate the pressure of bank financing. The proposals of the Ito family and Couche-Tard may lead to the restructuring of Seven & i, focusing on the business of 7-Eleven, convenience stores and gas stations, separating it from other retail businesses.